ED Auctions Properties Worth ₹15 Crore in Heera Group Fraud Case

Hyderabad, October 14 (Daily Kiran) : The Enforcement Directorate (ED) has completed the auction of seven properties connected to the Heera Group fraud case, with a total value of approximately ₹15.03 crore. This significant action took place in Hyderabad, where the ED's zonal office has been actively involved in the investigation. On October 6, 2026, the registration of these properties was finalized in favor of successful bidders.Among the auctioned assets are six flats located in H.S. Royal in Sheikhpet village and a house on Road No. 12 in MLA Colony, Banjara Hills. This auction was conducted under directives from the Supreme Court. A ruling on March 5, 2025, allowed the ED to auction the properties of Nohera Sheikh, the Heera Group of Companies, and others to maximize recovery for the original claimants and victims. Following this, a Supreme Court order on July 27, 2026, instructed the Registrar General of the Telangana High Court to appoint T.Venkateshwara Rao as the registrar to execute the sale deed on behalf of the accused. Consequently, the sale deeds for the seven properties were successfully registered in favor of the bidders. The case is linked to a large investment scam orchestrated by Nohera Sheikh, the owner of the Heera Group. The ED initiated an investigation under the Prevention of Money Laundering Act (PMLA) based on numerous FIRs lodged by police across various states. The investigation revealed that Sheikh and others had promised returns exceeding 36 percent annually, collecting over ₹5,978 crore from the public.However, the companies subsequently defaulted on returning the principal amounts and promised returns to a vast number of investors. The inquiry also uncovered that the illegal funds were used to acquire numerous movable and immovable properties in the names of Nohera Sheikh, her relatives, and associates. During the investigation, the ED's Hyderabad zonal office issued five provisional attachment orders to seize properties worth ₹428.83 crore under the PMLA.A prosecution complaint has also been filed in a special court regarding this case. The Supreme Court took serious note of Nohera Sheikh's conduct, revoking her bail on April 8, 2026, and ordering her to surrender within a week. Failure to comply led to a non-bailable warrant being issued against her on May 7, 2026. On May 21, 2026, acting on intelligence, the ED arrested Nohera Sheikh in Gurugram in a joint operation with Haryana police. She was subsequently brought to Hyderabad and has been in judicial custody since.The funds raised from the auctioned properties will be transferred to the Serious Fraud Investigation Office (SFIO) to be distributed among the victims, as per the Supreme Court's directives. The auction process for the remaining seized properties will continue.